6 Money Hacks of the Super Rich That You Can Try, Too

Core Insights - The article emphasizes that individuals with average salaries can utilize financial strategies similar to those employed by the wealthy to enhance their financial situation [1][2]. Group 1: Financial Strategies - Bank Bonus Harvesting: Moving $5,000 between banks offering new account bonuses can yield annual earnings of $1,000 to $2,000, with major banks like Chase and Citi providing bonuses ranging from $200 to $500 for new accounts [3]. - Credit Card Reward Stacking: Combining a 2% cash-back card with targeted 5% category cards can generate over $1,200 annually on a $30,000 spend, with strategic sign-up bonuses adding another $1,000 to $1,500 [4]. - Tax-Loss Harvesting: Selling underperforming investments to offset capital gains taxes can benefit anyone with a diversified portfolio, especially during volatile market periods, potentially offsetting $3,000 in ordinary income yearly [4][5]. Group 2: Property Tax Strategies - Property Tax Appeals: Filing an appeal using comparable sales data can reduce property assessments by 5-15%, saving $300 to $900 annually on a $300,000 home with a 2% tax rate, a strategy also used by wealthy homeowners [5].